Fastenal (NASDAQ:FAST) Shares Bought by Long Road Investment Counsel LLC

Long Road Investment Counsel LLC increased its stake in Fastenal (NASDAQ:FAST - Free Report) by 13.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 139,395 shares of the company's stock after acquiring an additional 16,000 shares during the quarter. Fastenal makes up 4.0% of Long Road Investment Counsel LLC's holdings, making the stock its 7th largest holding. Long Road Investment Counsel LLC's holdings in Fastenal were worth $9,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of FAST. Charles Schwab Investment Management Inc. grew its position in Fastenal by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,830,951 shares of the company's stock worth $751,780,000 after purchasing an additional 423,112 shares in the last quarter. Morgan Stanley raised its holdings in shares of Fastenal by 4.1% during the 3rd quarter. Morgan Stanley now owns 8,582,669 shares of the company's stock valued at $468,957,000 after purchasing an additional 337,168 shares in the last quarter. Northern Trust Corp raised its holdings in Fastenal by 5.9% during the third quarter. Northern Trust Corp now owns 7,444,498 shares of the company's stock valued at $406,767,000 after buying an additional 413,572 shares in the last quarter. Invesco Ltd. lifted its holdings in Fastenal by 16.5% in the 3rd quarter. Invesco Ltd. now owns 6,745,302 shares of the company's stock worth $368,563,000 after purchasing an additional 957,091 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Fastenal by 9.3% in the third quarter. Royal Bank of Canada now owns 6,651,629 shares of the company's stock worth $363,445,000 after buying an additional 568,372 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Fastenal Price Performance

NASDAQ FAST traded down $0.39 on Friday, reaching $66.42. The company's stock had a trading volume of 2,835,456 shares, compared to its average volume of 3,861,542. Fastenal has a 52 week low of $52.86 and a 52 week high of $79.04. The company has a current ratio of 4.83, a quick ratio of 2.49 and a debt-to-equity ratio of 0.06. The firm has a market cap of $38.03 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 3.51 and a beta of 1.07. The business has a 50-day moving average price of $71.91 and a 200 day moving average price of $67.64.

Fastenal (NASDAQ:FAST - Get Free Report) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Fastenal had a net margin of 15.68% and a return on equity of 33.98%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Sell-side analysts expect that Fastenal will post 2.12 EPS for the current year.

Fastenal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, April 25th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.56 annualized dividend and a yield of 2.35%. Fastenal's dividend payout ratio is currently 77.23%.

Insider Buying and Selling at Fastenal

In other news, Director Daniel L. Johnson bought 3,350 shares of the stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average price of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now owns 10,595 shares in the company, valued at $724,486.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Fastenal news, Director Daniel L. Johnson bought 3,350 shares of Fastenal stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $68.38 per share, with a total value of $229,073.00. Following the acquisition, the director now directly owns 10,595 shares of the company's stock, valued at $724,486.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffery Michael Watts sold 19,420 shares of the firm's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.25, for a total value of $1,364,255.00. Following the sale, the insider now directly owns 5,940 shares of the company's stock, valued at $417,285. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FAST shares. HSBC increased their price objective on Fastenal from $59.00 to $64.00 and gave the company a "hold" rating in a research report on Monday, April 15th. Robert W. Baird dropped their price objective on shares of Fastenal from $71.00 to $69.00 and set a "neutral" rating on the stock in a report on Tuesday, May 7th. Loop Capital decreased their target price on Fastenal from $71.00 to $66.00 and set a "hold" rating on the stock in a research report on Monday, April 15th. Finally, Stifel Nicolaus upped their price target on Fastenal from $75.00 to $85.00 and gave the company a "buy" rating in a report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $67.33.

About Fastenal

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.

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